25 May 2006
The parent company of the utility Yorkshire Water has recorded an increase in profits for the year, despite hitting its water customers with increased bills.
Pre-tax profits at the Kelda company saw a 17.6% climb from a year ago.
Kelda made £224.3 million in pre-tax profits for the financial year ending in March, up from the £190.7 million it made a year ago.
Despite this, bills handed to customers of its Yorkshire Water company have seen an 8.5% increase over the period, according to the Telegraph.
The paper added that Yorkshire Water's 4.7 million customers could experience an additional 6.7% rise in bills, after a new rise in prices was permitted by the regulator Ofwat for the current financial year.
Ofwat agreed to the increases in order to help water companies fund repair work and reduce the amount of water wasted through leakages.
Yorkshire Water has met the regulator's targets on water leakage and has no plans to impose restrictions on use.
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